Mahindra & Mahindra allots 34,310 shares on conversion of FCCBs

Mahindra & Mahindra Ltd has announced that the Company on August 13, 2007 has allotted 34,310 Ordinary (Equity) Shares upon the exercise of conversion option by the bondholder of the Zero Coupon Foreign Currency Convertible Bonds (FCCBs) of the Company. The above 34,310 Ordinary (Equity) Shares shall rank pari passu in all respects with the existing Ordinary (Equity) Shares of the Company.

The stock closed the day at Rs.689.85, up by Rs.18.80 or 2.80%. The stock hit an intraday high of Rs.691.80 and low of Rs.660.55. The total traded quantity was 91303 compared to 2 week average of 252219.

Source : Equity Bulls

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